India's Cera Sanitaryware jumps on positive demand view

Cera Sanitaryware

27/02/2023 08:22

** Shares of Cera Sanitaryware  CERA.NS  rise much as 4.40%
to 6,376.90 rupees
    ** Uptick in sanitaryware and tiles maker's stock comes
after analysts highlight healthy growth prospects, citing strong
demand trends
    ** Interaction with industry participants indicates that
demand trends for CERA's core products remain healthy in March
quarter so far - ICICI Securities
    ** Residential housing and home improvement markets driving
demand, adds brokerage
    ** Kotak Institutional Equities says Cera to grow at a
faster rate than annual industry average of 7%-8%
    ** However, ICICI Securities downgrades stock to "add" from
"buy", citing steep run-up in share price; CERA's stock price
has risen 21% in past three months
    ** CERA says demand trends remain strong, contribution from
new products rose 39% in December quarter from 10% earlier 
    ** Of the 12 analysts tracking CERA, eight suggest "buy" and
four recommend "hold"; median PT 6,050 rupees - Refinitiv data

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; Mobile:
+919769003463))